OPERATIONS
4 Unconventional KPIs That Actually Measure Productivity
By Libby Greiwe, CFP®
As Fee-Only fiduciary advisors, you know the standard key performance indicators (KPIs): revenue growth, new prospect meetings, AUM targets, conversions, etc. These are helpful, but they don’t always measure what matters most: impact, efficiency, and client experience.
In my early years running a practice, I chased every metric imaginable. I built dashboards, tracked calls, logged prospect touches—and still felt stuck. The numbers didn’t capture whether I was delivering meaningful client value or building a business that was sustainable for me and my family.
That’s when I began testing four unconventional KPIs. They reshaped how I measured productivity, reduced burnout, and created a client experience that drove referrals organically.
1. Impact Score
Instead of assuming activities like birthday cards or portfolio reviews were “high value,” I rated every client interaction on a two-axis grid: impact (low to high) and difficulty (easy to hard).
Some surprises emerged: annual reviews felt repetitive and scored low, while legacy letter workshops—where clients wrote messages of love and wisdom to their families—were low effort but enormously high impact.
This approach redirected my focus. I invested less time in activities clients barely noticed and doubled down on the ones they truly valued. I redeployed my energy, resources, and team to increase my impact. We started rating our meeting agendas, value adds, workshops, and webinars—everything we did—on an impact scale. We added it all up and gave our client service model a total Impact Score and total Difficulty Score. Our goal was to increase impact year over year, without increasing difficulty.
Referrals quickly followed.
2. Revenue Per Hour
Total revenue doesn’t measure efficiency. Revenue per hour—total revenue divided by hours worked—does.
For one “A” client, my team spent 40+ hours annually but earned the same as two smaller “B” clients who took up 20 hours combined. When I transitioned that "A" client to another advisor better suited to them, I freed time to serve more ideal clients, doubling my revenue per hour.
The shift gave me margin and improved my capacity while ensuring my best clients received concierge-level service.
3. Percentage of Time Spent with Clients
Advisors often spend less than 25% of their time directly with clients—bogged down by email, paperwork, and compliance tasks. By delegating and automating, I steadily pushed my own percentage toward 60%.
That metric kept me honest. If the number dipped, I knew administrative creep was stealing energy from where I added the most value—conversations, education, and strategy with clients.
4. Referrals to Ideal Clients
Instead of just counting referrals, I tracked referrals to clients who fit my niche. When I clarified who I served best, clients became my natural advocates.
Without ever asking, referrals flowed—not just more names but better fits. This KPI became a barometer of whether I was truly delighting clients and delivering a frictionless experience worth talking about. By including “ideal” referrals in the count, this ensured I was doing a great job articulating my niche and where I did my best work.
Traditional KPIs track activity. These four track impact, efficiency, and client experience—the drivers of sustainable growth. For Fee-Only advisors committed to fiduciary service, redefining success around these measures can reduce burnout, elevate client relationships, and create a business that thrives without grinding us down.
Libby Greiwe, CFP®, is the host of The Efficient Advisor podcast and a business coach to financial advisors. She built and scaled her own seven-figure practice while working 25 hours a week. Contact: libby@theeffiicientadvisor.com.
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